Amazon closed its takeover of Whole Foods faster than any other big public retail acquisition on record

 
Alys Key
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It took Amazon just 73 days to seal the deal (Source: Getty)

It took just 73 days for Amazon to close its takeover of Whole Foods, making it the fastest retail buyout worth more than $5bn (£3.9bn) in US history.

Whole Foods shareholders approved Amazon's takeover last week, giving the online giant the green light to officially close the deal yesterday.

It marks the shortest time between the announcement of a takeover and its completion on record for public US retail deals worth more than $5bn, according to insights from the Deals Intelligence team at Thomson Reuters.

The second-fastest was the BC Partners-led acquisition of PetSmart in 2014, which took 87 days.

Others in the top 10 quickest deals to close included KKR's buyout of Safeway (126 days) and the takeover of Pillsbury by Grand Metropolitan (now Diageo), which took 98 days.

The Amazon Wholefoods deal coincides with a rise in the number of public M&A deals taking place in the US, which has risen from just under 200 in 2010 to nearly 450 in 2017. This has also been one of the most valuable years, with deals worth nearly $50bn.

Amazon has acted quickly, already cutting in-store prices at Whole Foods and promising that more savings will be introduced as it integrates its logistics and merchandising systems with Whole Foods' to bring down costs.

Read more: Amazon: Is this the end for 'old-school' retailers?

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